$RENDER – TESTING MAJOR RESISTANCE: BREAKOUT OR PULLBACK? 🚀
$RENDER has gained +8% Tuesday and extended another +2% Wednesday, now pressing against a resistance trendline formed from the Jan 21 & May 10 closes. The 200-day EMA at $4.30 is the key level to watch.
Bullish Case:
A confirmed close above $4.30 could open the door toward $5.35 — the 50% retracement from the Dec 6 high of $10.47 to the Mar 10 low of $2.73. RSI at 57 and an uptrending MACD signal growing bullish momentum, similar to past AI token rallies.
Bearish Case:
Failure to break resistance could send price back toward the 50-day EMA at $3.82 for a retest.
📊 Decision Zone: $4.30 — Break and hold = bullish continuation. Rejection = potential pullback.
